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Nubank, a Brazilian financial technology company backed by Warren Buffett and Tencent, has become the most valuable financial group in Latin America with a value of $ 50bn after its initial public offering.

Shares in a lost digital lender jumped by a quarter when they started trading Thursday afternoon in New York, raising $ 2.6bn and selling a few. The project is ranked fifth in the US largest market in 2021, according to Dealogic.

David Vélez, founder and CEO, said the proceeds will help grow oil in his new Mexican and Colombian markets as he seeks to become a Latin American lender.

“There are many opportunities to build the next generation of financial services, so we will continue to invest and grow over the long term,” he told the Financial Times.

Nubank’s initial market capitalization of $ 41.5bn will be higher than Brazil’s largest bank, Itaú Unibanco, making its debut in 2013 was one of the 10 largest corporations in the world.

The advent of public corporate markets by Nu Holdings, the Cayman Islands that oversee the supply, also represents another important event in the region. the first preview.

Read more on Nubank IPO.